The Central Bank of Uzbekistan's Banking Supervision Committee held nine meetings in November 2024, during which issues were reviewed, and corresponding decisions were made, such as eight banks, seven payment service providers, and 12 microfinance organizations being penalized for breaching laws and regulatory requirements.
Registration and Licensing Updates
The Committee examined 13 matters related to registration and licensing. These included:
- Registration of amendments to the charters of credit organizations (1);
- Issuance of an auditor qualification certificate to conduct audits in banks (1);
- Approval of ownership of shares in the authorized capital of credit organizations (3);
- Review of candidates for supervisory board members, bank management, and key employees (8).
Nineteen issues focused on the financial condition of credit organizations. Discussions covered compliance with the Central Bank's prudential regulations, measures undertaken by commercial banks to address supervisory instructions, and the outcomes of inspections conducted at commercial banks and microfinance institutions.
Enforcement Actions and Penalties
The Committee issued warnings to 22 banks and 3 payment organizations for violations identified during investigations. Additionally, fines were imposed on:
- 8 banks,
- 7 payment organizations,
- 12 microfinance organizations.
These penalties addressed non-compliance with legal and regulatory requirements, including breaches of economic norms established by the Central Bank.
Seven banks were designated as systemically important for 2025.
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